Can digital technology innovation contribute to firms' market value?

ABSTRACT: With the rapid development of digital technology, digital technology innovation has become a core driver of China's economic development. Thus, this study uses A-share listed companies from 2003 to 2021 as the research sample. The digital patents of firms are identified to portray the level of digital technology innovation by matching the digital economy industry classification code, national economy industry classification code, and IPC number. Considers the economic effect of digital technology innovation from the perspective of firm market value. It is found that digital technology innovation significantly contributes to the increase in firm market value, and this finding still holds when robustness tests are performed. Mechanistic tests have shown that digital technology innovation aff

SUBMITTER: Ran L 

PROVIDER: S-EPMC11376586 | biostudies-literature | 2024

REPOSITORIES: biostudies-literature